The Media Resent Manipulation

By Eric M. Seidel, CEO

The Media Trainers®

Whether real, or imagined, when the media feel like they’re being told what to report and how, you’re potentially in for a more difficult time.

After 15 bank executives paraded out of their White House meeting with Pres. Obama last week, a flock of reporters moved in and herded them to a set of microphones for a debriefing.

The execs were intent on putting a positive spin on their meeting, emphasizing points of agreement with the administration. Reporters, on the other hand, probed more negative issues, like excessive executive pay and bonuses. One CEO, Bancorp’s Richard Davis, went a bit too far with his response and it precipitated more pointed questions.

Here’s a partial transcript with the potentially offending language highlighted, and a video of the complete segment is right below that.

“We appreciate the fact that’s a winnowing point for the press…it’s not something the industry supports or wants the press to pick up on…We’re changing the dialog and we’re looking forward to giving you new opportunities to celebrate peoples’ special stories of success…and we are responsible in some part for some of the sound bites that have come out along the way…but we’re going to move forward to give you better things to write about, to talk about and better stories to show what’s happening in the great recovery of this country…"

One other note. Davis unequivocally stated that the pay and bonus issues were not discussed with the president. However, Obama told Face the Nation host Bob Schieffer on Sunday, March 29th that the issue did come up because he brought it up. An edited video here illustrates the contradiction:

Congress Fiddles; Does Business Enjoy Being Burned?

By Eric Seidel, CEO
The Media Trainers, LLC

“Retention bonuses are a form of extortion.”—Barney Frank on CBS’ Face the Nation, 3-22-09.

While public anger in reaction to the AIG bonus payments is understandable, knee-jerk legislation from Congress is not. Yet, on top of the punitive 90% surtax bill already passed by the House, Financial Services Committee chairman Barney Frank now has his sights on all companies receiving federal bailouts (a/k/a TARP). He will be rolling it out this week (click on video below). In essence, it puts more of Washington into corporate boardrooms. Is that what you want, or need?

In addition, there’s talk of using “reconciliation” by the Democratic majority in Congress to stifle debate and amendments when the budget, healthcare reform, energy and bank bailout legislation come to the floor.

How far does Congress want to take this? And what is business willing to do in response? Is there concern about the federal legislature having its hand so deep into the management of private business? How are your most important stakeholders supposed to feel? What are you doing to address and impress their feelings?

While Congress is busy tapping into public anger with poorly thought out bills, the businesses of America seem to be MIA. Unless they’re called onto the Congressional carpet for hearings where members can make points with constituents, business leaders seem to be lying low. Yet, now is the time to speak up, as is so effectively explained in a white paper from Acumen Strategies.

There is too much at stake to remain silent.